Stock Markets Surge After Felon Blinks On Tariffs

CNBC reports:

Stocks surged Wednesday after President Donald Trump announced a pause in some of the ‘reciprocal’ tariffs, causing a market that’s been under extreme pressure for the last week to explode higher. The Dow Jones Industrial Average advanced nearly 3000 points, or 8%, also its biggest advance since 2020. The Nasdaq Composite jumped 12.4%, its largest one-day jump in decades. The S&P 500 skyrocketed 9.3%, on pace for its biggest one-day gain in five years.

“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted on his Truth Social. Trump, in the same post, said he was raising the tariff on China higher again to 125%. Treasury Secretary Scott Bessent later clarified that all countries except China would go back to the 10% baseline tariff rate as negotiations take place. The pause would not apply to sector tariffs, Bessent said.

Read the full article. Trump, of course, just lied that “this is the biggest financial day in history.”

Trump blinks after 13 hrs https://t.co/ahXXDMRF6u

— Bakari Sellers (@Bakari_Sellers) April 9, 2025